How Much Did Caribou Raise? Headquarters, Funding & Key Investors

Caribou has raised a total of $190 million across four funding rounds, culminating in a $116 million Series C round in May 2022, led by Goldman Sachs Asset Management, at a $1.1 billion valuation. Earlier rounds include a $2.78 million Seed round (2019), $10 million Series A (2021), and $50 million Series B (2021) backed by investors such as Moderne Ventures, Motley Fool Ventures, CMFG Ventures, and Accomplice. Founded in 2016, Caribou helps U.S. drivers compare auto insurance and refinance car loans through a digital platform.

How Much Did Caribou Raise? Funding & Key Investors

Caribou has raised substantial capital across multiple funding rounds, most recently securing $116 million in May 2022, led by Goldman Sachs Asset Management, at a $1.1 billion valuation. Founded in 2016, Caribou operates as an online platform for comparing auto insurance, helping users find coverage, manage payments, and access auto refinancing options.

What Is Caribou and What Does It Do?

Caribou, founded in 2016, is headquartered in Washington, DC, United States. The platform connects drivers with auto insurance solutions, providing quotes, accident protection, extended vehicle coverage, total loss protection, and key replacement. Caribou also offers refinancing options through a network of lenders, helping users save on car payments.

With a team that has grown steadily over the years, Caribou focuses on making auto insurance and vehicle financing simple, transparent, and accessible for drivers across the U.S.

How Much Funding Has Caribou Raised?

1. Seed Round

Amount Raised: $2.78 million
Date: Dec 2019
Lead Investors: Accelerated Digital Ventures, Y Combinator
Motivation - This early-stage funding enabled Caribou to develop its auto refinancing platform, setting the stage for future growth.

2. Series A

Amount Raised: $10M
Date: January 2021
Lead Investors: Moderne Ventures, Link Ventures, Motley Fool Ventures, CMFG Ventures, Gaingels
Motivation: To develop platform capabilities and expand user acquisition.

3. Series B

Amount Raised: $50M
Date: May 2021
Lead Investors: Goldman Sachs, Moderne Ventures, Link Ventures, Motley Fool Ventures, CMFG Ventures, IA Capital Group, Accomplice
Motivation: To scale operations, enhance technology, and broaden lender partnerships.

4. Series C

Amount Raised: $116M
Date: May 2022
Lead Investors: Goldman Sachs Asset Management, Innovius Capital, Harmonic, Accomplice, CMFG Ventures, Curql, Firebolt Ventures, Gaingels, Moderne Ventures, Motley Fool Ventures
Motivation: To expand market reach, improve product offerings, and support growth initiatives.

Total Funding Raised: $190 Million

Current Valuation: $1.1 Billion (as of May 2022)

Latest Funding Date: May 2022

Key Investors

1. Goldman Sachs

Details: Leading global investment banking and financial services firm.
Investment Focus Areas: Financial services, technology, consumer fintech.
Notable Investments: Caribou, Stripe, Robinhood.

2. Goldman Sachs Asset Management

Details: Asset management division of Goldman Sachs providing investment solutions across asset classes.
Investment Focus Areas: Equity, fixed income, alternative investments.
Notable Investments: Caribou, Circle, Coinbase.

3. Accomplice

Details: Venture capital firm focused on early-stage technology investments.
Investment Focus Areas: Fintech, SaaS, consumer technology.
Notable Investments: Caribou, Gusto, Toast.

4. Moderne Ventures

Details: VC firm investing in technology solutions for financial services and insurance.
Investment Focus Areas: Fintech, insurance tech, mobility.
Notable Investments: Caribou, Ladder, Hippo.

5. CMFG Ventures

Details: Investment arm of CUNA Mutual Group focusing on fintech and insurance solutions.
Investment Focus Areas: Financial technology, insurance, member-driven platforms.
Notable Investments: Caribou, Next Insurance, Kin Insurance.

Where Is Caribou’s Headquarters?

Caribou is headquartered in Washington, DC, providing strategic access to major insurers, fintech innovation hubs, and regulatory resources to support its growth and partnerships.

What’s Next for Caribou?

Caribou aims to expand its auto insurance and refinancing platform, grow its network of insurance providers and lenders, and enhance consumer experience through technology-driven insights. Challenges include navigating competitive pressures in the insurtech space, maintaining regulatory compliance, and scaling personalized services across diverse markets.

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